China to ease growth as inflation dangers mount

In a speech to the National People's Congress today, Premier Wen Jiabao says China will gear down growth to “promote both sound and fast economic and social development”. "On the basis of improving the economic structure, productivity, energy efficiency and environmental protection, the GDP should grow by about 8%," Premier Wen says. China has become the world's fourth largest economy, growing by 65.5% over the past five years. Last year China’s GDP grew 11.4% to 24.7trn yuan ($3.43trn), prompting inflation and overheating fears. Premier Wen is aware of the inflation danger, saying Chin...